How has IIPR stock performed over the past year?

IIPR stock ( NYSE:IIPR) has undergone a notable rally over the past year. Specializing in industrial cannabis properties, the REIT’s stock has surged by 57% during this period, beating its peers by a wide margin. In comparison, the largest ETF in the sector, the Vanguard Real Estate ETF ( NYSEARCA:VNQ ), has gained just 3% during the same period.

Does IIPR have a strong lease profile?

This illustrates IIPR’s strong lease profile, whose weighted average duration term remains at 14.8 years. In the meantime, interest expenses amounted to just $4.4 million, down from $4.5 million last year, which reflects the company’s recent capital management moves and overall clean balance sheet.

Should you buy innovative industrial properties (IIPR)?

Overall, the long-term lease agreements and high occupancy rate highlight Innovative Industrial Properties’ appeal to tenants. Better, it puts IIPR at the top of our list of high-yield dividend stocks to buy and hold today.